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Mahindra share prices zoom after 5 new EV launch curtain-raiser

Akshata KamathAugust 16, 2022 | 15:16 IST

Mahindra and Mahindra (M&M) announced the launch of 5 new Electric Sports Utility Vehicles (E-SUVs) on India's 76th Independence Day on August 15, 2022, and kicked off a happy momentum for the stock market on August 16. Along with categorizing these 5 SUVs under two brands, XUV and BE, M&M also launched its new platform Inglo, which will power all of its electric vehicles, using components from Volkswagen.

First, the five new SUVs: The 5 SUVs will fall under 2 brands - the iconic brand XUV (with the twin peak logo) and the all-new electric-only brand called BE which is the short form of born electric. This means that all 5 SUV names will either start with XUV or BE. The car is also expected to seat 4 passengers. 

SUV 1: XUV.e8

  • To be launched in December 2024
  • Based on the INGLO Platform
  • Dimensions: LxWxH: 740x1,900x1,760 mm | Wheelbase: 2,762mm

SUV 2: XUV.e9

  • Will launch in April 2025 
  • Based on the INGLO Platform
  • Dimensions: LxWxH: 790x1,905x1,690mm | Wheelbase: 2,775mm

SUV 3: BE.05

  • Will launch in October 2025 
  • Based on the INGLO Platform 
  • Dimensions: LxWxH: 370x1,900x1,635mm | Wheelbase: 2,775mm

SUV 4: BE.07

  • Will launch in October 2026
  • Based on the INGLO Platform
  • Dimensions: LxWxH: 565x1,900x1,660mm | Wheelbase: 2,775mm

SUV 5: BE.09

  • Launch date and Dimensions of this model are yet to be decided 
  • Based on the INGLO platform

What is the INGLO platform?  

Just like every building has a strong base, every electric car is built over a square or rectangular base which forms the base of the car and houses batteries that help run the car. Though the platform is consistent in design, it can be customized for every new vehicle depending on the space, design, and requirements that the vehicle needs to fulfill. To understand this here is a video below that shows a similar platform built by Volkswagen, called MEB.   

Mahindra is building a similar platform to Volkswagen's MEB called Inglo that will help your electric car function like it should. Inglo uses a common battery pack design and the battery range is about 60-80kwh. The batteries are capable of 175kW fast-charge, meaning a car can be charged from 0% to 80% in less than 30 minutes. The electric SUVs come with both rear and all-wheel drive configurations and the speed of the cars can change from 0 to 100 in 5 to 6 seconds. Inglo will offer international safety standards, exhilarating performance, a multi-sensorial driving experience with an augmented reality-enabled display, and a 5G network capability.  

The deal with Volkswagen: 

M&M and Volkswagen have signed a term sheet ( a written deal with terms and conditions) whereby Volkswagen will provide unified cells and MEB electric components for M&M's Inglo platform. Both M&M and Volkswagen aim to create more than 1 million units over a lifetime and are expecting to continue this partnership since Volkswagen aims to sell over 20-30% of electric vehicles by 2027.   

Share prices zoom: M&M shares rose 3% in the morning on August 16, 2022, and were thus included in the list of the top gainers stocks for the day. M&M's stock has given a return of nearly 55% to investors in 2022 (year-to-date) and ever since the news of the collaboration with Volkswagen has broken out in May 2022, the share prices have risen by about 40% from about Rs 895 to Rs 1,200.  

Last updated: August 16, 2022 | 15:16
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